Asia Oil Imports Set for Rebound

Crude oil imports in Asia have been nothing to write about so far this year. But the tide is turning, and volumes are beginning to climb. The top contenders for the Asian supplier crown: Russia and Saudi Arabia. China, the world’s biggest importer of crude, saw a 5% decline in its foreign oil shipments over the first two months of the year.

The average daily stood at 10.38 million barrels, down from 10.74 a year earlier. The chief reason for the decline, however, was not organic demand death. It was the last round of sanctions that the Biden…